Idle BoU Board Blamed For Banks Closure Irregularities


The Board of Governors (BoD) of Bank of Uganda (BoU) have been blamed for abdicating their duties as supervisors of the central bank management leading to the controversial and irregular closure of the seven defunct Banks. The blame was made the parliament’s Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) when the BoD and top management of the central bank led by the governor Emmanuel Mutebile made an appearance. In a meeting that was held today to discuss the governance challenges within the Central Bank and attended by the…

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